Mortgage Payments Hit Record High | Real Estate Market Update w/ Martin Perdomo

Send us a text

Mortgage payments have hit an unprecedented milestone in the housing market, reaching an all-time high of $2,807 during March 2025. This record surge arrives alongside a 3% year-over-year increase in median home sales prices, while mortgage rates hover around 6.67%. Yet amid these challenging affordability conditions, a ray of hope emerges – new home listings have increased by 7.5% compared to last year, offering the most significant inventory expansion we've seen in 2025.

The numbers tell a fascinating story of market psychology. Despite more homes becoming available, pending sales have actually decreased by 4.6% year-over-year. This disconnect reveals how economic uncertainty is reshaping buyer behavior across different regions. Washington DC buyers are approaching purchases with heightened caution, many citing concerns about potential layoffs and job stability. Meanwhile, Los Angeles demonstrates an opposite trend, with pending sales rising after five consecutive weeks of decline as affluent buyers re-enter the market.

These regional variations highlight why local expertise remains invaluable in today's real estate landscape. Several Midwest neighborhoods are currently experiencing exceptional activity, ranked among Redfin's hottest markets. For sellers, increased inventory means more competition and the need for strategic pricing, while buyers face the paradox of more options coupled with persistent affordability challenges. Join us for our upcoming event "How to Be Financially Free in Under Three Years" on April 23rd at Tampa's Grand Cathedral Cigar Lounge, where we'll explore wealth-building strategies to help you navigate this complex market landscape. Reserve your seat today at www.wealthyaf.ai/events – your financial future can't afford to wait!

Support the show

Introducing the 60-Day Deal Finder!
Visit: www.wealthyaf.media
Use the Coupon Code: WEALTHYAF for 20% off!

Episode Transcript

Speaker 1 (00:02):
Welcome back to this week's real estate market update
.
Today we're diving into recenttrends shaping the real estate
landscape.
We are also having an excitingannouncement about an upcoming
event that will put you on thefast track to financial freedom,
so make sure you stay tuned.
Let's start with the numbers.
According to a recent report byRedfin, the median monthly

(00:24):
mortgage payment has reached anall-time high of $2,807 during
the four weeks ending March 23,2025.
This surge is attributed to a3% year-over-year increase in
median home sales price andmortgage rates, averaging around
6.67%.

(00:46):
Despite these rising costs,there is a silver lining.
New listings of homes for salehave increased by 7.5% compared
to the same period last year,marking the most significant
uptick so far in 2025.
This influx of new listingscould provide more options for
prospective buyers.

(01:06):
However, the high costs areimpacting buyers' behavior.
Pending home sales havedeclined by 4.6% year over year,
indicating that, while morehomes are available, buyers are
proceeding with caution.
In regions like Washington DC,economic uncertainties and
employment concerns areinfluencing buyers' decisions.

(01:28):
Some buyers are hesitant due topotential layoffs and economic
stability, leading to a morecautious approach in the housing
market.
On the flip side, certain areasare experiencing a resurgence
in buyer interest, for instance,in LA, pending home sales have
risen after five weeks ofdeclines, possibly due to an

(01:50):
influx of affluent buyersentering the market.
It's also worth noting that thehousing market is experiencing
regional variations.
In the Midwest, for example,several neighborhoods have been
highlighted as hottest by Redfin, indicating increased interest
and activity in these areas.
Before we continue, let's take aquick break.

(02:11):
Do you want to achievefinancial freedom faster?
Learn how to generate trueactive income and reinvest it
wisely at our upcoming event howto Be Financially Free in Under
Three Years on April 23rd atthe Grand Cathedral Cigar Lounge
in Tampa.
Gain real wealth buildingstrategies.
Escape the paycheck to paycheckcycle and connect with industry

(02:34):
experts.
Your financial freedom startsnow.
Reserve your seat today atthewealthyafai forward slash
events.
Now back to your regularscheduled conversation.
The current market presents bothchallenges and opportunities.
For sellers, the increase innew listings mean more

(02:55):
competition, which might requirestrategic pricing to attract
buyers For buyers.
While affordability remains ahuge concern, the growing
inventory offers a widerselection of homes to choose
from.
As we move further into theyear, monitoring these trends
will be crucial for anyoneinvolved in the real estate

(03:15):
market.
Staying informed and adaptablewill be the key to navigating
the evolving landscape.
That wraps up this week's RealEstate Market Update.
If you found this to be helpful, be sure to share with your
network and tune in to next timefor more insight on the latest
market trends.
And remember, if you want toget ahead of the market, grab

(03:38):
your ticket for the upcomingevent before they're all gone at
wealthiafai forward slashevents.
Thank you for listening.
I'll see you next time.
Peace out.